Coastwise Capital Group LLC Purchases 2,844 Shares of NextEra Energy, Inc. (NYSE:NEE)

Coastwise Capital Group LLC grew its position in NextEra Energy, Inc. (NYSE:NEE) by 73.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,705 shares of the utilities provider’s stock after acquiring an additional 2,844 shares during the period. Coastwise Capital Group LLC’s holdings in NextEra Energy were worth $407,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of NextEra Energy by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock worth $11,368,065,000 after acquiring an additional 1,956,153 shares in the last quarter. Norges Bank bought a new position in shares of NextEra Energy in the 4th quarter worth about $2,561,055,000. Northern Trust Corp raised its position in shares of NextEra Energy by 2.0% in the 3rd quarter. Northern Trust Corp now owns 22,982,250 shares of the utilities provider’s stock worth $1,316,653,000 after acquiring an additional 455,271 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of NextEra Energy by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,782,674 shares of the utilities provider’s stock worth $654,940,000 after acquiring an additional 429,979 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of NextEra Energy by 10.5% in the 4th quarter. 1832 Asset Management L.P. now owns 6,631,121 shares of the utilities provider’s stock worth $402,774,000 after acquiring an additional 629,032 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

Shares of NextEra Energy stock traded down $4.27 during mid-day trading on Tuesday, hitting $72.70. 22,778,059 shares of the stock were exchanged, compared to its average volume of 11,754,617. NextEra Energy, Inc. has a 12 month low of $47.15 and a 12 month high of $80.47. The company has a 50-day simple moving average of $70.98 and a 200 day simple moving average of $63.31. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. The company has a market capitalization of $149.36 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.76 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter last year, the firm earned $0.84 EPS. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.515 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.83%. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NEE. Mizuho lifted their price objective on NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Bank of America lifted their price objective on NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. Wells Fargo & Company raised their target price on NextEra Energy from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Barclays raised their target price on NextEra Energy from $66.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy has an average rating of “Moderate Buy” and an average price target of $73.50.

NextEra Energy Profile

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.